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Retail

Groupe Casino Offloads Further Six Stores

By Dayeeta Das
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Groupe Casino Offloads Further Six Stores

Groupe Casino has announced it is selling six ‘structurally loss-making’ stores for a combined total of €18.3 million.

The group announced it is selling a Géant hypermarket in Barberey-Saint-Sulpice to a Leclerc operator.

It is also selling a portfolio of five stores, including four Casino supermarkets and one Leader Price, to Groupement Les Mousquetaires.

Sales Performance

In 2018, these stores represented a turnover excluding tax of approximately €43 million, Casino said, and a trading loss of approximately €3 million.

‘The agreements signed provide for the continuation of the employment contracts of the employees of these stores, in accordance with legal rules,’ Casino said.

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The sale of the stores is expected to be completed in the second half of 2019, subject to competition and regulatory approval, and consultation with employee representative groups.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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